By Rebecca Melvin
New York, July 31 – Modern Land (China) Co. Ltd. issued RMB 880 million of 7.8% three-year domestic corporate bonds through indirect wholly owned subsidiary Modern Green Development Co., Ltd., according to a company announcement.
Avic Securities Co. Ltd. was the lead underwriter.
Proceeds will be used to repay corporate bonds due to be redeemed in 2019 and other purposes.
The property developer is based in Beijing.
| Guarantor: | Modern Land (China) Co. Ltd.
|
| Issuer: | Modern Green Development Co., Ltd.
|
| Amount: | RMB 880 million
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| Tenor: | Three years
|
| Description: | Domestic corporate bonds
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| Lead underwriter: | Avic Securities Co. Ltd.
|
| Coupon: | 7.8%
|
| Distribution: | Regulation S
|
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